Moneris Solutions, a Canada-based payment processing solutions provider, has chosen VeriFone System’s VX 520 countertop device to enhance electronic payments process for its merchants.

According to VeriFone, the PCI PTS 3.X compliant VX 520 will feature a major processor to handle payment encryption, decryption and processing while allowing merchants to improve security and reduce transaction times.

The integrated contactless capability and all-in-one design of the device will allow merchants to accept alternative payments, such as EMV (chip and PIN) cards and mobile wallets, as well as traditional mag-stripe cards through a single device.

Additionally, merchants will also be able to use the VX 520 to support value-added applications, such as loyalty or gift card acceptance.

The VX 520, which is scheduled for installation in 2014, will feature full functioning dual communication through its range of connectivity options, which include dial-up and Ethernet.

Moneris chief sales and marketing officer, Jeff Guthrie, said: "At Moneris, we are proud to enhance our service to our customers with a convenient and secure technology solution that streamlines the payment process.

"The adoption of VX 520 devices will expand merchants’ payment options, while giving them an opportunity to process payments faster and spend more time running their business."